Name: Rebate4U Inc.
Address: 2700 Dufferin St. Unit 68, Toronto, ON, M6B 4J3
Telephone: 1-800-610-4510
Rating: 4.8

For new condo owners in Toronto, or for those about to purchase, it’s important to understand some of the unique elements of the HST rebate. Needless to say, there’s a lot to think about when purchasing a new condo. But with a sizeable HST rebate available, it’s worthwhile to understand the eligibility requirements. When certain pre-conditions are satisfied, and the right paperwork submitted, an HST rebate can make a big difference for new condo owners in Toronto.The HST tax structure encompasses most purchases in Ontario. As a blended tax, the HST (a total of 13%) combines the Federal GST tax of 5%, and the Ontario PST tax of 8%. HST taxes apply to specific real estate transactions, including new condo owners in Toronto. If the purchased condo were not sold before 12 months of ownership, the HST rebate would apply. However, as with any other government program, there are rules and regulations for complete eligibility. When purchasing a new condo or house, there is such a thing as the New Home Rebate. Under the NHR, new condo owners in Toronto could be eligible for an HST rebate when occupying the premises as a principal resident for at least the first year. In most purchase situations, the New Home Rebate will be claimed directly by the real estate developer. This is done on behalf of the purchaser, who in turn receives their “rebate” in the form of a reduced “sale price”. With regard to pre-construction condo purchases, sale prices already have the HST Rebate factored into the deal. For those receiving an HST rebate as the end-user, it’s essential to show that the new home is a principal residence. This means changing all personal identification to reflect the new home address (driver’s license, health card, etc.). If there is any suspicion about primary residency, the HST rebate may need to be paid back when the deal closes. In order to remain eligible for an HST rebate, a purchaser must continue to reside in the condo for the first year at a minimum. Importantly, a condo buyer can still receive the HST rebate if an immediate family relative lives in the property. Immediate relatives are defined as parents, grandparents, wives or husbands. Also important is that property co-signers must live in the condo as principal residents. Here, any inconsistencies could risk the HST rebate. What’s absolutely critical with HST rebates is to prepare all of the paperwork properly, and submit applications by the specified deadline dates. For those who find the process somewhat complicated and slightly stressful, it may a good idea to work with a real estate rebate expert. Here, the experts at Rebate4U can streamline the process, covering all of the bases, and meeting all of the deadlines. Rebate4U provides personal and attentive service every time. To find out more about HST rebates and eligibilities, contact Rebate4U toll-free at 1-800-610-4510 (or call locally at 416-783-6969). More information is also available on the company website www.rebate4u.ca .

More of our Blogs

Renovations

15 April 2024

How to Cash in on Your Spring Renovations with the Ontario Rebate Program

Learn more about how you can cash in on your spring renovations with the Ontario rebate program!

View Full Post

Renovations

26 March 2024

Tips to Ensure Your Renovation is Substantial Enough for the HST Rebate on New Homes

The Harmonized Sales Tax (HST) Rebate on home renovations is a significant financial incentive for homeowners in Ontario, providing a golden opportunity to recoup a portion of the expenses involved in upgrading and enhancing their living spaces. This rebate is offered via Canada Revenue Agency, and it aims to encourage property owners to invest in their homes, not just for personal satisfaction...

View Full Post

Renting

13 March 2024

How to Claim the HST Rebate on Rental Properties

The HST rebate on rental properties or the New Residential Rental Property Rebate is an excellent opportunity for new condos and homeowners who are not planning on occupying the property to get some money back that was invested in the purchase of the new home. Choosing to rent a property is an effective secondary passive income. When paired with the HST Rebate in Ontario, a rental property can be...

View Full Post

Renting

26 February 2024

How to Find a Tenant Ahead of Your HST Rental Rebate Application

If you’re renting out a new residential property, the HST Rebate in Ontario is a great opportunity to get back some of the money you’ve invested into purchasing the condo. Available via Canada Revenue Agency, the New Residential Rental Rebate Program can mean thousands of dollars back. To qualify for this rebate program in Ontario, you must meet the criteria set out by Canada Revenue...

View Full Post

Renovations

10 February 2024

3 Stand-Out Benefits of Applying for HST Rebate on Home Renovations

Home renovations are a great way to revitalize your existing property to transform it into your dream home. Working with the best contractors you can make large-scale upgrade plans that rebuild your home from the ground up. With programs like the New Home HST Rebate in Ontario, the cost of these significant upgrades can be mitigated. By working with the experts at Rebate4U you can assess your...

View Full Post

Renovations

31 January 2024

Why Turn Repairs into Renovations with the Home Renovation HST Rebate

Whether you’ve recently purchased a new home that needs a lot of work or are ready to upgrade your existing home, renovations and remodels can rack up quite the bill. But for homeowners in Ontario, the HST rebate on home renovations is a viable option that can help you get more return from your investment. Read on for more information!

View Full Post

HST housing rebate

18 January 2024

Which Part of Your Home Renovations Are Subject to HST in Ontario?

Like with the transaction of any good or service in the province, there is a 13% tax (Harmonized Sales Tax) added to every purchase, including the sale properties. When buying a home, this tax can add up to a substantial amount. In Ontario, the HST Rebate program is offered to residential property buyers as a way to offset the cost of new home purchases.

View Full Post

Condos

15 December 2023

What to Do When You're Not Ready to Move Into Your New Condo

If you’ve bought a new condo and want more insight into your rebate options, from the HST Rebate on new homes to the New Residential Rental Property Rebate, contact the experts at Rebate4U for more insight and personal guidance.

View Full Post

Newly built homes

27 November 2023

So You Built a New Home, Now What?

If you’ve recently finished building your new property in the last two years, you may be eligible for money back with the HST rebate in Ontario. The program allows homeowners to recover a portion of their HST spent on construction.

View Full Post

Rebate Blog

17 October 2023

Signs You'll Benefit from the HST Rebate in Ontario

The HST Rebate in Ontario is a valuable and beneficial program available to homeowners in Ontario. Unfortunately, many new home buyers or even long-time homeowners are unaware of the program’s existence or their eligibility. The new home HST Rebate can be nuanced, but with the guidance of an experienced, trusted, and knowledgeable professional like the team at Rebate4U,...

View Full Post